St. Paul daily globe., 1887-09-28
On the Chicago Board Of Trade De-
cline Was Expected in the
Grain Markets,
But the Crowd Was Disappointed, and
Various Causes Kept
Prices Up.
Transactions in the Financial Circles
of Wall Street.-The Gen.
eral Quotations.

cumStance that was somewhat surprising III
view of the fact that the crowd was pretty
well loaded up, and, according to popular
belief, waiting for good chance to realize.
Those who bulled the market yesterday on
the supposition that Ream, Cudahy and their
following had covered their shorts, aban-
doned that theory, but the market held as
firmly as ever Then it was stated that Ryder
had sold 900, 900 bushels bushels for Hutch
inson yesterday on the bulge. This morning
Phelps of Milmine & Bodman, was a steady
seller on hard spots" There was extern
siye aggregate buying to fill previous sales
by parties who are haunted by fear that
there is going to be a squeeze in october. 1t
Is very well understood that elevator men and
shipping houses own four-ffths of the wheat
in store here, and that few large houses
have many millions more bought for that
month than there is wheat within easy reach.
That makes the bears exceedingly nervous
and disinclined to stand on short lines. 1t
also makes holders indisposed to accept frac-
tional profits, and attracts the public to the
[bull side of the deal. If it be true that for
eigners have bought heavily in this market,
expecting to get the grain on their contracts
and ship it out, they are liable TO disappoint-
ment. Instead of wheat it may be they will
have to content themselves with differ
ences."
MILLERs WILL HAVE DIFFICULTY
in supplying the demands of the flour trade
with differences but in the absence of
actual wheat they might supply their Gus
toners with ''bear meat" This is thrown
out as suggestion to millers and they will
doubtless act upon it, The feature of the
corn deal to-day was the active inquiry for
shipping account and the covering of shorts
principally for May. Partridge was given
hn nra1it of tall
wheat and formally abandoning the bear
side for the moment Shippers had some
difficulty getting corn enough TO fill orders.
The large charters, 443,G0O bu show that
the inquiry for cash property is not
letting up in the least. Receipts
continue to be large but not ex-
cessive, and stocks do not accumulate.
Oats ranged 14c higher There was further
break in October ribs to $3.50 and recovery
to $40, the close being S7.67I2 Other pro-
duets ruled quiet and fiuc tuatons were
within a narrow limit. For the last hour the
market was unqualifedly buoyant on strong
cables, outside buying and covering of large
short lines by Partridge and others. October
went to 7l5sc, December to 74ssc, and May
to 795S079S4c. The close at l was conces-
son from those prices At the afternoon ses-
sion there was considerable interest in both
wheat and corn. Wheat advanced slightly
and corn declined fraction. Oats un-
changed. Ribs slightly higher. 2:30 for.
prime wheat 7115c September, 715sc
October. 714c December. 1889 bid May.
Corn, 42c September, 417Sc October, 415sc
December, 45Isc May. Oats 254c Septem-
Der, 25I2c October, 29a4@297sc May Pork,
S12 year, S12.30 January. Lard, Sc 42I I2
September, S6.42l2 october, Sc. 40 December,
S6.75 May. Short ribs $7.72I2 September,
S7.72I2 October.
THE ROUTINE REPORT.
CHICAGO, Sept. 27.-It was quite generally
expected that local liquidation would bring
about q decline in the grain markets to-day.
But the crowd was wrong. Cables were
again very encouraging for the bulls. Spot
wheat and corn were firm and in fair demand
at Liverpool, and for futures the demand was
called gooo. Exporters also reported good
inquiries. The decrease in the visible an
nounced yesterday not only helped prices up,
but the more the fact of large decrease in
visible wheat at this season Of the year was
considered the less operators felt like selling
against it. Wheat did not reach before noon
as high point as on yesterday. but sold be-
tween 71@71l2c for October and between
T9079Ssc for May. Corn showed more firm
ness with less cause. and the October article
sold at 41a4@42c and May up to 45Isc
The interest III wheat was we'll maintained
and at times exciting Prices were: Octo-
Der, 71l4c up to 7ll2c. then down to 71c, up
again TO 71SSc, and back to 711sc, from
which point there was rally at 1890
which carried this future to 71i2c the sec
ond time for the day; December sold at
1850 to open, then up to 74Ac, back down
to 737Sc, and reacted later to 7414c; May
Sold at 79c and 79sSc. The best prices of
the day were about fifteen minutes before l
p. m, when October sold up TO 715s@71s4c;
December to 74Ac, and May 1850. The
final prices for the day were about the same
except for May which showed falling off of
Ac: Corn was moderately active and firm
to-day. Receipts were not as large as antici-
pated, and this together with the urgent de-
mand for cash corn, rendered to create a
firm feeling. There was good local demand
and better inquiry from other sources some
foreign orders, both for cash and future de-
livery, being on the market Cables were
frIner, and home markets steady October
opened 4134c, ranged at 4134@421sc, and
closed at 4115c. May opened at 4478c. ranged
at 44S40454c, and closed at 45Isc Oats
were stronger in sympathy with the improved
tone of other markets and the firmness pre-
yailing resulted in final improvement of an
1s@4c for near futures, but May did not
change materially. Provisions were rather
quiet and changes in prices were slight. In
view of the liberal receipts of hogs. with q
further increase estimated for tomorrow the
undertone to the market indicated a weaker
feeling, and prices were more favorable to
buyers. Offerings were moderately free
while the demand was only fair, with Octo.
Der and January deliveries attracting most
attention. The inquiry for shipment was
comparatively light and limited to small Or
ruled easy. The receipts of products were
light, while the shipments were quite liberal,
and widely distributed. European advices
were unchanged while Eastern markets
were higher. October lard opened at Sc 42Isc
ranged at Sc. .40@6. .42l2c, closing at Sc 42Iac.
Short rib sides were somewhat unsettled and
weak, and further sharp decline was sub
mitted to for October delivery. while Janu-
ary was a trifle lower. October opened at
S7.9Oc, ranged at S7.5O@7 soc closing at
SIl212c January opened at Sc. 25c ranged
at So 25@G. 2Il2c. closing at S6.2712c. Mess
pork for January sold. at S12 27I2@I2. soc,
closing at S12.30c.
THE QUOTATIONS.
The leading futures ranged as follows:
71lsc; october, 71l4c, closing at 715sc; De-
cember, 737sc, closing at 744c; May, 79Ac,
closing at 79s4c. Corn-No. 2, September,
4ls4e. closing at 42c; October, 41s4c, closing
May, 447sc. closing at 451sc. Oats-No.
September. 25Ac, closing at 25Ac; October,
29Hc a, closing at 25l2c; May, 29s4c, closing
At 96nEos 294c Ness s,p pork per bblTYear, sl2
per 100 lbs-September, S6.42I2, closing at
S642l2; October, Sc. 42I2, closing at So. .42ls,
DeeembeE' s6S7. closing at S6.4o; Janu,
100 lbs-september, s7.s2l2, closing at
$772l2; October. $3.50, closing at
S. 772l2; January, S6.25, closing at Sc. .25.
Cash quotations were as follows: Flour, in
better demand, and prices unchanged; No.
spring wheat, 71@714c; No. 3 spring
wheat SEC; No. 2 red, 73c; No. corn,42c;
No; oats, 25Ac; No 2 rye, 48c; No.
barley. 69c; No. I flaxseed, 81. .O6I2: prime
timothy seed, S2.26; mess pork, per bbl.,
SIS; lard, per 100 lbs, S6.45; short ribs sides
Qoosel, S7.6zI2: dry salted shoulders,
(boxed), So.2S@5.30 short clear Sides
lboxed), So.05@S.1 10; whisky, dstillcrs' fin
ished goods, per gal, S1.1O: sugar, granu-
lated 6l2c asked: Standard "A, 6Isc asked.
Receipts-Flour, $1,000 bbls: wheat, $1,000
bu; corn, 270; 900 bu: oats 223, 900 bu; rye,
1000 bu; barley, 142. 600 bu. ShipmentsS
Flour. 81 900 bbls: wheat, SO, 600 bu: corn,
$4,000 bu; oats, 10000 bu; rye, 1000 bu;